Merger of Audit Firm
muruganandam anandam
SURENDER HARSH
Company/LLP Registrations | NGO Registrations (Trust, Society, Section 8 Company) | Producer Company | NIDHI Company | NBFCs |, NCLT AND NCLAT Matters, ROC, RD Compliances | XBRL Filings | Secretarial Compliance & Services | FEMA Compliances | Closure of Companies/LLP's | Appointment & Resignation of Directors & Auditors | Alterations of MOA & AOA/LLP Agreement | DSC & DIN | GST Registration & Returns | Tax Registrations & Returns | Import Export Code | FSSAI (Food License) | Trade Mark ( National & International ) | Copyright | ISO Certifications | Income Tax | TAXATION | | , Court Matters (District and Hight Court Level Matters ) Etc.
--
--
************************************************
Mail your comments, feedback and suggestions on CSMysore to Moderator: datta...@gmail.com and Manager: vivekhe...@gmail.com
---
You received this message because you are subscribed to the Google Groups "CSMysore" group.
To unsubscribe from this group and stop receiving emails from it, send an email to csmysore+u...@googlegroups.com.
To view this discussion visit https://groups.google.com/d/msgid/csmysore/CABzGhE7qcH5WKTOzsHgJpTyeozs5hFGOULFhYYnyRQTrZMJXmw%40mail.gmail.com.
muruganandam anandam
To view this discussion visit https://groups.google.com/d/msgid/csmysore/CAKAtWR8rFirdWGX0e%2Bs%2BqCVK3So69BvUyu9ij4ozFMUGcFCmyA%40mail.gmail.com.
Nishant Jain
To view this discussion visit https://groups.google.com/d/msgid/csmysore/CABzGhE6jChY%3DA9rLg2meXTuvK0JnmOAd%2B9z%3D-shX-dgJAMpbYw%40mail.gmail.com.
muruganandam anandam
To view this discussion visit https://groups.google.com/d/msgid/csmysore/CAF3O-kBL3iAzVPnGcV9L%2BKaZgoMHiMRqtfaM-gWm1ZOqswOVtA%40mail.gmail.com.
BINDU MADHAVA
To view this discussion visit https://groups.google.com/d/msgid/csmysore/CAF3O-kBL3iAzVPnGcV9L%2BKaZgoMHiMRqtfaM-gWm1ZOqswOVtA%40mail.gmail.com.
Bindu Madhava K G
SURENDER HARSH
In this situation, since the statutory auditor appointed at the AGM in September 2024 has undergone a merger and the CA Institute has approved the same,
ADT-3 , will be file surely because PAN No also be changed , if pan no is not changed then ADT-3 is not require
1. Change in the Name of the Audit Firm
When an audit firm merges and the new name of the merged entity is adopted, it is necessary to notify the stakeholders about the change in the audit firm's name.
2. Filing of Fresh ADT-1
As per Rule 4 of the Companies (Audit and Auditors) Rules, 2014, filing of a fresh ADT-1 is mandatory in case of a change in the auditor due to reasons such as resignation, removal, or change in the firm's constitution (e.g., merger or amalgamation).
- Reason: Even though there is no change in the individual auditor, the legal entity (audit firm) has undergone a change. Filing ADT-1 ensures that the Ministry of Corporate Affairs (MCA) database reflects the correct name of the appointed auditor.
In this situation, since the statutory auditor appointed at the AGM in September 2024 has undergone a merger and the CA Institute has approved the same, the following steps must be considered:
1. Change in the Name of the Audit Firm
When an audit firm merges and the new name of the merged entity is adopted, it is necessary to notify the stakeholders about the change in the audit firm's name.
2. Filing of Fresh ADT-1
As per Rule 4 of the Companies (Audit and Auditors) Rules, 2014, filing of a fresh ADT-1 is mandatory in case of a change in the auditor due to reasons such as resignation, removal, or change in the firm's constitution (e.g., merger or amalgamation).
- Reason: Even though there is no change in the individual auditor, the legal entity (audit firm) has undergone a change. Filing ADT-1 ensures that the Ministry of Corporate Affairs (MCA) database reflects the correct name of the appointed auditor.
3. Procedure for Filing Fresh ADT-1
Here’s how you can proceed:
(i) Board Meeting
- Convene a board meeting to take note of the merger of the audit firm and approve the continuation of the appointment of the merged entity as the statutory auditor.
(ii) Intimation to MCA
- File a fresh Form ADT-1 with the MCA, specifying:
- The name of the new merged audit firm.
- The reason for filing (e.g., merger of the previously appointed audit firm).
- The name of the new merged audit firm.
- The reason for filing (e.g., merger of the previously appointed audit firm).
(iii) Details to Include in ADT-1
- Old audit firm’s name.
- New merged entity's name.
- Date of approval of the merger by ICAI.
- Board resolution approving the continuation of the merged firm as the statutory auditor.
4. Communication to Stakeholders
- Notify shareholders and other stakeholders about the change in the name of the statutory auditor due to the merger.
5. Retention of Audit Period
- The five-year term of appointment will not change; the merged firm will continue for the remaining period.
Company/LLP Registrations | NGO Registrations (Trust, Society, Section 8 Company) | Producer Company | NIDHI Company | NBFCs |, NCLT AND NCLAT Matters, ROC, RD Compliances | XBRL Filings | Secretarial Compliance & Services | FEMA Compliances | Closure of Companies/LLP's | Appointment & Resignation of Directors & Auditors | Alterations of MOA & AOA/LLP Agreement | DSC & DIN | GST Registration & Returns | Tax Registrations & Returns | Import Export Code | FSSAI (Food License) | Trade Mark ( National & International ) | Copyright | ISO Certifications | Income Tax | TAXATION | | , Court Matters (District and Hight Court Level Matters ) Etc.
To view this discussion visit https://groups.google.com/d/msgid/csmysore/CAFCiigw%2BAx7u2fyi9%2BfEPnYnFh3n4%3DNmggApvRVa-EH6F0VhDw%40mail.gmail.com.
muruganandam anandam
To view this discussion visit https://groups.google.com/d/msgid/csmysore/CAKAtWR9TNgzjM48RR1c3kVE_ZQ9%2BORY8i_Y-YNKHn87KdJZ2rQ%40mail.gmail.com.